Lockheed Loses Its Biggest Weapon

$1 trillion in future revenues, now at risk.

A few years ago, Chairman of the Joint Chiefs of Staff Admiral Mike Mullen assured Lockheed Martin (NYSE:LMT) investors that their company's F-35 Lightning II fighter jet was the only game in town -- probably the "last manned fighter jet" the U.S. would ever build. Fast-forward a few years, and the Pentagon's under new management. Air Combat Command Mike Hostage now says that the U.S. needs a whole "family of systems" for its Air Force, and could begin building a new, sixth-generation fighter jet in as little as 18 years.

What does this mean for Lockheed and for the F-35's engine builder, United Technologies(NYSE:UTX)? What opportunities does it open up for rival plane builders such as Boeing(NYSE:BA) and Northrop Grumman(NYSE:NOC)? Listen in, as Fool contributor Rich Smith explains.

Author

I like things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well. Follow me on Twitter or Facebook for the most important developments in defense & aerospace news, and other great stories besides.
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